In this article, you will learn, How you can be safe your trade from your broker. As I told you earlier, that we will teach you the most important and unique things in forex trading. This is very important that you must need to know, what brokers are doing? With your open positions.
How to Visible Ask Line?
First of all, you must need to know that whenever you are trading, that means you are buying or selling any pair. In that pair, your action effect on the base currency of the pair.
I would like to let you know that buy position always open at the ask price and close at the bid price. And same like, sell positions always open at the bid price and close at the ask price. So confusion is here most of the people they don’t know, how they can open ask price in MT4 chart. Here is a way to do that:
Open MT4 > Choose your pair > Right click on the chart > Click on Properties > Common > Show ‘Ask Line’
So now, as you know that how to open ask price in your MT4 chart, so you must need to concentrate on your positions that you are buying/selling and you need to check which price you are getting from the broker. If you don’t show the ask line on your chart and you are buying, you will be very confused. Because the chart will show you the bid price and the open price will different than the bid price, and you will surprise that why I didn’t get the price where I open position. So if you have open ask line in your chart, and you know position always open at the ask price and close at the bid price.
Sell positions will make you more confuse if you have set take profit and stop loss in your chart. SO, whenever you have set Stop Loss and Take Profit, you know that sell positions always open at the bid price and close at the ask price. So, if you didn’t open ask line in your chart, and you know one more very important thing Ask price always higher than the Bid price. So, what will happen if you haven’t show ask line on your chart and market goes up means market goes against your position. You will see only bid price didn’t reach your stop loss, but your position already hit stop loss. Why it’s happened…? Because your ask line already reached on your stop loss as ask price always higher than the bid price. At the same time if the market goes down means in your position’s favor. You will see market will cross your take profit and your position didn’t hit your take profit. Why it’s happened…? Because your ask price didn’t reach yet on your take profit price. So you must need to know, your position will always close at the ask price.
How to Safe your Trades from Brokers? (TUTORIAL)
In this video, You’ll be learn about How you can be safe your trade from your broker.
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